The odds have opened for UFC 217’s recently announced headliner between UFC middleweight champion Michael Bisping and former longtime welterweight titleholder Georges St-Pierre.

Bisping (30-7 MMA, 20-7 UFC) formally announced his title fight with St-Pierre (25-2 MMA, 19-2 UFC) during Tuesday’s edition of “UFC Tonight.” This past weekend at UFC 214, UFC President Dana White confirmed the previously announced and then subsequently canceled fight was back on again (watch the video above).

According to the oddsmakers, St-Pierre, who hasn’t fought in nearly four years – and who will move up a weight class for the fight – is actually the favorite heading into UFC 217.

The event takes place Nov. 4 at Madison Square Garden in New York City, and the main card airs on pay-per-view following prelims on FS1 and UFC Fight Pass.

In widely available lines, St-Pierre is a -155 (20/31) favorite over +125 underdog Bisping (5/4). That gives St-Pierre an implied win probability of 61 percent.

At those odds, a winning $100 bet on St-Pierre would result in a net profit of $64.52; a winning $100 bet on Bisping would net a profit of +$125.